Ecommerce has made shopping anything from clothes to beauty products, housewares, and even services much easier and faster.
Knowing the basics of eCommerce is important if you want to start selling goods online and keep an eye on your website. You can strengthen your own eCommerce business and increase sales with the help of this data. Additionally, owning an eCommerce business is turning into a well-liked technique for more people to make money online as creating your own website grows easier for everyone.
Globally, there are between 12 and 24 million eCommerce sites, and new ones are being launched every single day. So now that you have a better understanding of the scope of the eCommerce market, let's look at some important eCommerce statistics and facts to help you with your business planning.
Statistics on Ecommerce to Pay Close Attention to in 2023
Learning the major trends can help you handle your business more effectively, which is the only way to stay ahead. These statistics apply to all online retailers, so you can utilize them however you see fit to help your company succeed in e-commerce.
Global eCommerce Statistics
There are internet shoppers all around the world, but some countries and some age groups are more avid buyers than others. Look at these numbers:
1. The Top Three Ecommerce Markets Are China, the U.S., and the UK
China tops the list of Ecommerce markets, which should not be surprising given that its people conduct more online purchases annually than the average customer.
In 2021, it was predicted that China would produce $2,779.31 billion in Ecommerce sales. The U.S., with expected sales of $843.15 billion, is in second place. The UK completes the top three with sales of $169.02 billion.
2. Younger Consumers Shop Online More Than Older Generations
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In the United States, 38.4% of internet shoppers are under the age of 35.
In actuality, Millennials—those born between 1981 and 1996—represent the greatest demographic of online buyers.
Only 14.4% of Americans who shop online are 65 years of age or older. Younger generations might just value its simplicity and accessibility.
3. 53% of People Say Free Shipping is the Top Reason They Shop Online
Have you ever avoided ordering something online because shipping was either too expensive or not free? It's not just you. Free shipping, according to 53% of consumers, is one of the primary factors in their decision to shop online. This, along with Amazon's extensive product range, is probably the reason they enjoy such success.
General eCommerce Statistics
Ecommerce, in its simplest form, is the electronic conduct of business through the internet. Additionally, it is anticipated that Ecommerce would produce $5.42 trillion in annual sales by 2022. These statistics undoubtedly support the notion that those who sell goods online have a bright future.
- 61% of online consumers in the United States have made a purchase based on recommendations from a blog. (Content Marketing Institute)
- 59% of Millennials will go to Amazon first when online shopping, making the giant online retailer one of your biggest competitors. (Inviqa)
- By the year 2040, it’s estimated that 95% of all purchases will be through eCommerce. (Nasdaq)
- In 2017, Amazon accounted for 44% of all US eCommerce sales. (CNBC)
- 55% of online shoppers tell friends and family when dissatisfied with a product or company. (UPS)
- 93.5% of global internet users have purchased products online. (OptinMonster)
- Around 50% of people say they’d purchase something from a website’s chatbot using conversational marketing. (Drift)
- 76% of people prefer to go to a physical store for holiday shopping. (GeoMarketing)
- Multi-step forms in WordPress can lead to 300% more conversions. (Venture Harbour)
- The eCommerce industry is growing 23% year-over-year, yet 46% of American small businesses still don’t have a website. (BigCommerce)
Social Media eCommerce Statistics
1. An average of 32% more sales are generated by social media presence for online stores.
Of course having more sales is a good thing. According to eCommerce statistics, online stores with a social media presence typically generate 32% more sales than those who don't. This can be as a result of social media improving a store's online online visibility.
2. Customers who are referred to an online store via Instagram place an order worth $65 on average.
Instagram might be important for some people to drive sales. Customers who are referred to an online store via Instagram place orders with an average value of $65. This is a higher total than what platforms generally produce.
3. The average for Facebook is $55, $46 for Twitter, and $38 for YouTube.
If you incorporate social media into your digital marketing strategy, your brand can experience a significant increase in sales. And it's one of the best strategies to expand your website and earn more money online by utilizing the potent psychological phenomena of social confidence. Whether you personally love it or despise it, social media is a digital communication strategy that demands your attention if you manage an online store or any other type of organization.
Here are some more statistics to support this:
- 25% of US shoppers consult social media before buying a gift for friends and family. (nChannel)
- Online stores with a social media presence have an average of 32% more sales than those that don’t. (BigCommerce)
- The average eCommerce site publishes 4.55 posts a week on their Facebook page. (BigCommerce)
- 74% of consumers rely on their social networks to make purchasing decisions. (Kinsta)
- 85% of orders from social media sites come from Facebook. (Shopify)
- The number of marketers sharing video content on LinkedIn rose to 65% in 2021. (DreamGrow)
- Posts with photos get 53% more Likes, 104% more comments, and 84% higher click-through rates. (Neil Patel)
- 75% of Instagram users have taken an action, such as visiting a website, after looking at an Instagram advertising post. (Locowise)
- The average order value for customers referred from Instagram is $65.00, followed by Facebook ($55), Twitter ($46), and YouTube ($38). (Shopify)
- Social media posts with 80 characters or less get 66% more engagement. (Neil Patel)
